Savills has been instructed to sell Blacklight Capital Partners’ Limelight student accommodation scheme in Liverpool, with offers sought over £61m, giving a net initial yield (NIY) of 5.75%.
The new purpose-built site has 535 beds split across two blocks, covering 162,654 square feet.
Of these, 79% are cluster rooms and 21% are studios.
Facilities include a sky lounge, cinema and karaoke rooms, gym, study areas, lounges and private gardens.
Limelight Liverpool sits in the Knowledge Quarter, about four minutes from Liverpool Lime Street station and close to both of the city’s biggest universities.
The building also has solar panels, low energy lighting, a sustainable drainage system and a highly insulated structure.
It has an energy performance certificate (EPC) ‘B’ rating, an EWS1 A1 rating and is predicted to receive a BREEAM ‘Excellent’ rating.
Jamie Radcliffe, associate director, operational capital markets at Savills, said: “We are delighted to bring this best-in-class asset to market.
“Liverpool continues to attract exceptional applicant demand, with rising domestic and international acceptances outpacing many other regional cities and cementing the city’s position as a leading UK higher education hub.
“Liverpool’s PBSA market presents a compelling investment opportunity, with demand consistently outpacing limited supply and exceptionally few viable schemes progressing through the development pipeline.”
Radcliffe added: “The scheme offers strong defensive characteristics, with 71% of occupants being domestic students.
“Limelight Liverpool also benefits from a wide variety of room types and price entry points, supported by an extensive range of high-quality amenities designed to enhance the student living experience.
“Limelight Liverpool is perfectly positioned to meet the growing demand, offering investors a rare chance to secure a high-quality, income-generating asset in one of the UK’s most dynamic and resilient student markets.”
